Fifth Third Bancorp posts Q2 net in line with estimates

MarkCotton

NEW YORK (CBS.MW) -- Fifth Third Bancorp
FITB, +1.25%
posted second quarter net income of $447.5 million, or 79 cents a share compared with $415.3 million, or 71 cents a share in the same quarter in 2003. The Thomson First Call average estimate was for earnings of 79 cents a share. Net interest income for the quarter rose to $762 million from $739.3 million. Second quarter return on average assets dipped to 1.91 percent from 1.92 percent in the year-ago quarter while return on average equity edged higher to 21 percent from 18.6 percent. Shares of Fifth Third Bancorp were up 1.2 percent at $53.98 at the close of trading Wednesday.

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